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Risk Management and Internal Controls – Investment Solutions Products
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$85k–$140k/yr
Full-time
bachelor degree
Comprehensive Employee Benefits, Perks
Posted 53d ago
~40 hrs/week
Responsibilities
Partner with business units to implement and maintain the risk and control framework for Investment Solutions, specifically focusing on Private Markets and Alternative Investments. Responsibilities include coordinating RCSAs, managing examinations, monitoring risk incidents, and leading risk mitigation efforts.
Requirements
Requires at least 5 years of relevant risk experience and an undergraduate degree in business, finance, accounting, or a related field. Candidates should possess strong knowledge of audit practices, IT security controls, and financial services products like private equity and hedge funds.
Full job description
Morgan Stanley Wealth Management provides access to a wide range of wealth management products and services for individuals, businesses and institutions to deliver services and solutions that help build, preserve and manage wealth. These services include brokerage and investment advisory, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement and trust.
Business Risk Management
The Investment Solutions Business Risk Management team is responsible for implementing the product risk and control framework supporting Traditional Investment Products, Insured Solutions, Alternative Investments and Private Markets. This requires close coordination with support partners such as the Product teams, Operations, Technology, Compliance and Legal to identify and assess operational risks and implement controls and processes.
Position Summary
Business Risk Management is seeking a candidate for Risk Management and Internal Controls. This position is responsible for partnering with the business units to ensure continued adherence to the risk and control framework and provide ongoing risk management support with a focus on Private Markets and Alternative Investments.
Primary responsibilities include:
Supporting BCU Officer(s)in the following areas:
EquityZenMigration – Assist in the migration of newly acquired Equity Zen business processes with a focus on developing and implementing of the control framework.
RCSA Coordination – Assist in coordination with risk owners in the business to continue to enhance the risk and control self-assessment to ensure that risks and controls are documented around current supervisory processes and test the supervisory process to ensure coverage is adequate.
Examination Management– Assist in coordination with internal/external auditors, compliance and central RCSA testing teams to ensure that the business is adequately prepared for all reviews. Track the status of open risks identified by internal/external audit, compliance and central RCSA testing teams and work with each action owners to identify the best resolution to remediate controls or mitigate risk.
Risk Incident Monitoring – Assist in analyzing incidents and determine firm, advisor and/or client impact. Conduct a mini front-to-back analysis of incidents to determine if an enhancement is needed to a function/process/control and ensure that operational risk incidents are properly posted to and processed through the Risk Incident Tracking Application (ReCap).
Risk Identification – Assist in planning and performing internal reviews of procedures and controls residing within various product and business areas to ensure that controls are adequately designed and are operating effectively in preparation for all audits, compliance exams, and regulatory inquiries.
Risk Mitigation – Proactively engage appropriate stakeholders and partners to lead the implementation of enhanced processes and controls build-out for any identified control gaps or opportunities for enhancement.
Management Reporting – Develop reporting and effectively and timely communicate risk management issues and internal control deficiencies to BRM Management with properly vetted and proposed solutions.
IT Project and Risk Management – Manage certain aspects of the pipeline of IT projects for certification through partnering with management and various PMO groups and ensure that IT projects are appropriately assessed for risk ratings. Engage the Business Unit Information Security Officer (BUISO) team when information security risks are identified.
Vendor Management, EUC, User Entitlements – Participate in review and monitoring of these areas to ensure compliance and timely response to inquiries and/or testing.
Qualifications
At least 5 years of relevant risk experience.
Undergraduate degree in business, finance, accounting or other related fields
Audit and RCSA experience preferred
Business Process and Operational control environment experience preferred
Strong understanding of Compliance and Audit practices
Knowledge of IT Security controls
Demonstrate an understanding of the financial services industry, Investment Solutions products specifically alternative investments (private equity, hedge funds, exchange funds etc) and insurance products (annuities, insurance including property and insurance experience a plus
Ability to take initiative, analyze, summarize, and communicate effectively orally and in writing
Strong interpersonal skills - ability to work with various professionals and levels of management across departments
Excellent organizational skills, ability to manage multiple tasks and meet assigned deadlines
Ability to work independently and within teams, promote teamwork and demonstrate sound reasoning and judgment.
Strong working knowledge of MS Office (Microsoft Word, Excel (including pivot tables, vlookups, etc.) and PowerPoint))
WHAT YOU CAN EXPECT FROM MORGAN STANLEY:
At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.
Expected base pay rates for the role will be between $85,000 and $140,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.
Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.
Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.
Morgan Stanley is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With a 90-year history, Morgan Stanley today operates in 42 countries serving corporations, governments, institutions, families and individuals.
Morgan Stanley is a talent business that demands ongoing investment in our people. Key drivers of our success have been the breadth and tenure of our talent, as well as a unique culture and a set of values that guide our employees. We view Morgan Stanley’s talent and culture as a key competitive advantage enabling the Firm to achieve its potential and drive future success.
As an integrated firm with scaled capabilities, we partner with clients at every stage of their financial journey. Our ability to do so is grounded in four pillars that define Morgan Stanley: a clear and consistent strategy to help clients raise, manage and allocate capital; a culture grounded in rigor, humility and partnership; financial strength through capital, earnings power and durability; and growth driven by smart, strategic investment globally.
These pillars enable Morgan Stanley to provide trusted advice, operate with resilience across market cycles and deliver long-term value to our clients and shareholders.
Social Media Disclosures: mgstn.ly/SocialDisclosure
Offices: 1585 Broadway, New York, NY 10036, US · 2000 Westchester Ave, Purchase, New York 10577, US · 522 5th Ave, New York, US · 20 Bank Street, Canary Wharf, London, England E14 4AD, GB · 1 Austin Road West, Kowloon, Hong Kong, HK
How much do Security & Safety jobs in New York pay?
Based on 2647 listings with disclosed salaries, most security & safety jobs in New York pay between $70k–$182k per year. Individual offers vary with seniority, company size, and specialization.
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